• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Crescent Energy Closes Transformative Acquisition of SilverBow Resources

    7/30/24 9:05:00 AM ET
    $CRGY
    Oil & Gas Production
    Energy
    Get the next $CRGY alert in real time by email

    Company to report second quarter financial and operating results August 5th

    Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company"), today announced the closing of its acquisition of SilverBow Resources, Inc. ("SilverBow"). The transaction was closed ahead of schedule, and Crescent plans to provide pro forma second half 2024 guidance reflecting the acquisition, as well as issue its second quarter 2024 financial and operating results, after market close on August 5, 2024. A conference call is planned for August 6, 2024.

    The SilverBow integration is well underway with approximately $35 million of the previously announced $65 – $100 million in annual synergies captured to date through an improved cost of capital resulting in reduced interest expense.

    Crescent Energy is a leading growth through acquisition company primed for sustainable value creation with a focused portfolio of high-quality and long-life assets, an attractive, returns-driven financial framework and strong balance sheet, led by a management team executing on the same strategy for more than a decade. The combined portfolio of assets positions the company for substantial free cash flow generation with balanced and attractive exposure to commodity price upside.

    Crescent Energy Offers a Compelling Value Proposition

    – Combined company is the second largest operator in the Eagle Ford

    – Creates leading mid-cap E&P with scaled, balanced portfolio of high-quality assets

    – Substantial free cash flow generation with disciplined capital allocation framework

    – Well-positioned for further growth through accretive, returns-driven M&A

    "Today is an exciting day for Crescent. We are well positioned to create value, and I am grateful for the trust from our original Crescent and new SilverBow shareholders, each of whom voted with an overwhelming majority to approve our merger and to take equity consideration and participate in the go-forward company," said Crescent CEO David Rockecharlie. "Through disciplined investing and operations, we have delivered profitable growth, tripling the size of our business over the last four years. We have created a premier growth through acquisition platform by executing on our cash flow and returns-oriented strategy. Today, we are focused on rapidly integrating our new assets and personnel and continuing to deliver on the significant synergies we've identified to strengthen returns. We are highly confident in our ability to execute and demonstrate Crescent's value proposition as a leading mid-cap company."

    Transaction Details

    Pursuant to the consideration election mechanics of the transaction, SilverBow shareholders elected to receive in aggregate approximately $358 million in total cash consideration as part of the transaction. Crescent issued approximately 52 million shares of Class A common stock to fund the non-cash portion of the consideration. As of closing, former SilverBow shareholders own approximately 23% of the combined company on a fully diluted basis.

    (Shares in MM)

    CRGY

    Status Quo

    SBOW

    Acquisition

    CRGY

    Pro Forma

    Class A

    (Public Shares)

    112

    52

    164

    Class B

    (Private Shares)

    66

    --

    66

    Total Shares Outstanding

    (Public and Private Shares)

    177

    52

    230

    Governance Update

    Pursuant to the merger agreement, Marc Rowland and Michael Duginski have been appointed to Crescent's Board of Directors effective as of closing of the acquisition. The additions expand Crescent's board to a total of eleven directors, of which nine are considered independent directors. The new directors will complement Crescent's experienced and engaged board. Further detail on the additional directors can be found on the Crescent website (www.crescentenergyco.com).

    Conference Call Information

    Crescent plans to host a conference call to discuss its second quarter financial and operating results, as well as its pro forma outlook for the remainder of 2024, at 10 a.m. CT on Tuesday, August 6, 2024. Complete details are below. A webcast replay will be available on the website following the call.

    Date: August 6, 2024

    Time: 10 a.m. CT (11 a.m. ET)

    Conference Dial-In: 877-407-0989 / 201-389-0921 (Domestic / International)

    Webcast Link: www.crescentenergyco.com

    About Crescent Energy Company

    Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Crescent's portfolio of low-decline, cash-flow oriented assets comprises both mid-cycle unconventional and conventional assets with a long reserve life and deep inventory of high-return development locations in the Eagle Ford and Uinta basins. Crescent's leadership is an experienced team of investment, financial and industry professionals that combines proven investment and operating expertise. For more than a decade, Crescent and its predecessors have executed on a consistent strategy focused on cash flow, risk management and returns. For additional information, please visit www.crescentenergyco.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases "should", "could", "may", "will", "believe", "plan", "intend", "expect", "potential", "possible", "anticipate", "estimate", "forecast", "view", "efforts", "goal" and similar expressions identify forward-looking statements and express the Company's expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, uncertainties inherent in estimating natural gas and oil reserves and in projecting future rates of production; the anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the combined company's operations; the ability of Crescent to integrate the business successfully and to achieve anticipated synergies and value creation; the risk that cost savings, synergies and growth may take longer to realize than expected; potential litigation relating to the transaction; the risk that disruptions from the transaction will harm Crescent's business, including current plans and operations and that management's time and attention will be diverted on transaction-related issues; potential adverse reactions or changes to business relationships, including with employees, suppliers, customers, competitors or credit rating agencies, resulting from the completion of the transaction; our hedging strategy and results; federal and state regulations and laws; upcoming elections and associated political volatility; the severity and duration of public health crises; actions by the Organization of the Petroleum Exporting Countries ("OPEC") and non-OPEC oil-producing countries; the impact of the armed conflict in Ukraine; continued hostilities in the Middle East, including the Israel-Hamas conflict and rising tensions with Iran; the impact of disruptions in the capital markets; the timing and success of business development efforts, including acquisition and disposition opportunities; our reliance on our external manager, sustained cost inflation, elevated interest rates and central bank policy changes associated therewith and other uncertainties. Consequently, actual future results could differ materially from expectations. The Company assumes no duty to update or revise its respective forward-looking statements based on new information, future events or otherwise.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240729676293/en/

    Get the next $CRGY alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $CRGY

    DatePrice TargetRatingAnalyst
    2/3/2025Buy
    Siebert Williams Shank
    10/28/2024Outperform
    Pickering Energy Partners
    9/24/2024$17.00Outperform
    Evercore ISI
    9/18/2024$12.00Neutral
    JP Morgan
    8/8/2024$20.00Overweight
    Wells Fargo
    7/18/2024$16.00Outperform
    Wolfe Research
    6/27/2024$16.00Overweight
    KeyBanc Capital Markets
    4/10/2024$18.00Buy
    Tudor, Pickering, Holt & Co.
    More analyst ratings

    $CRGY
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Crescent Energy Reports First Quarter 2025 Results

      Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") today announced financial and operating results for the first quarter of 2025. Crescent's earnings release and supplemental earnings presentation can be found at www.crescentenergyco.com. The Company's first quarter 2025 conference call is planned for 10 a.m. CT (11 a.m. ET) on Tuesday, May 6, 2025. About Crescent Energy Company Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Our long-life, balanced portfolio combines stable cash flows from low-decline production with deep, high-qualit

      5/5/25 4:20:00 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Crescent Energy Completes Accretive Sale of Non-Operated Permian Basin Assets

      Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company"), today announced the closing of the sale of non-operated Permian Basin assets to a private buyer for $83 million in cash, subject to customary post-closing purchase price adjustments. The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil). Proceeds from the sale will be used to reduce outstanding borrowings on the Company's revolving credit facility. The transaction has an effective date of December 31, 2024, and Crescent plans to update its 2025 outlook to reflect the divestiture alongside its first quarter 2025 financial and operating results. "We are

      4/22/25 8:11:00 AM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Crescent Energy Schedules First Quarter 2025 Earnings Release and Conference Call

      Crescent Energy Company (NYSE:CRGY) today announced plans to host a conference call and webcast at 10 a.m. CT, on Tuesday, May 6, 2025 to discuss its first quarter 2025 financial and operating results. The Company plans to release results after market close on Monday, May 5, 2025. The release and supplemental slides will be available on the company's website at www.crescentenergyco.com. Conference Call Information Time: 10 a.m. CT (11 a.m. ET) Date: Tuesday, May 6, 2025 Conference Dial-In: 877-407-0989 / 201-389-0921 (Domestic / International) Webcast Link: www.crescentenergyco.com A webcast replay will be available on the website following the call. About Crescent Energy Crescent is a

      4/10/25 4:30:00 PM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Large owner Independence Energy Aggregator L.P. disposed of 26,185,773 units of Class B Common Stock and converted options into 26,185,773 shares (SEC Form 4)

      4 - Crescent Energy Co (0001866175) (Issuer)

      4/8/25 5:08:15 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Director Pt Independence Energy Holdings Llc converted options into 36,813,628 shares and disposed of 36,813,628 units of Class B Common Stock (SEC Form 4)

      4 - Crescent Energy Co (0001866175) (Issuer)

      4/8/25 4:19:35 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Director Farley Claire S was granted 11,043 shares, increasing direct ownership by 32% to 45,913 units (SEC Form 4)

      4 - Crescent Energy Co (0001866175) (Issuer)

      4/3/25 4:41:53 PM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    SEC Filings

    See more
    • SEC Form 10-Q filed by Crescent Energy Company

      10-Q - Crescent Energy Co (0001866175) (Filer)

      5/5/25 4:27:38 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Crescent Energy Company filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - Crescent Energy Co (0001866175) (Filer)

      5/5/25 4:25:12 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Amendment: SEC Form SCHEDULE 13G/A filed by Crescent Energy Company

      SCHEDULE 13G/A - Crescent Energy Co (0001866175) (Subject)

      5/2/25 11:06:04 AM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    Financials

    Live finance-specific insights

    See more
    • Crescent Energy Reports First Quarter 2025 Results

      Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") today announced financial and operating results for the first quarter of 2025. Crescent's earnings release and supplemental earnings presentation can be found at www.crescentenergyco.com. The Company's first quarter 2025 conference call is planned for 10 a.m. CT (11 a.m. ET) on Tuesday, May 6, 2025. About Crescent Energy Company Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Our long-life, balanced portfolio combines stable cash flows from low-decline production with deep, high-qualit

      5/5/25 4:20:00 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Crescent Energy Schedules First Quarter 2025 Earnings Release and Conference Call

      Crescent Energy Company (NYSE:CRGY) today announced plans to host a conference call and webcast at 10 a.m. CT, on Tuesday, May 6, 2025 to discuss its first quarter 2025 financial and operating results. The Company plans to release results after market close on Monday, May 5, 2025. The release and supplemental slides will be available on the company's website at www.crescentenergyco.com. Conference Call Information Time: 10 a.m. CT (11 a.m. ET) Date: Tuesday, May 6, 2025 Conference Dial-In: 877-407-0989 / 201-389-0921 (Domestic / International) Webcast Link: www.crescentenergyco.com A webcast replay will be available on the website following the call. About Crescent Energy Crescent is a

      4/10/25 4:30:00 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Crescent Energy Reports Fourth Quarter and Full Year 2024 Results

      Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") today announced its fourth quarter and full year 2024 financial and operating results, as well as its 2025 capital budget and production outlook. Crescent's earnings release and supplemental earnings presentation can be found at www.crescentenergyco.com. The Company's fourth quarter and full year 2024 conference call is planned for 10 a.m. CT (11 a.m. ET) on Thursday, February 27, 2025. About Crescent Energy Company Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Our long-life, bala

      2/26/25 4:20:00 PM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    Leadership Updates

    Live Leadership Updates

    See more
    • Crescent Energy Set to Join S&P SmallCap 600

      NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Crescent Energy Co. (NYSE:CRGY) will replace Perficient Inc. (NASD:PRFT) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, October 4. EQT Group is acquiring Perficient in a deal expected to close soon pending final conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker GICS Sector October 4, 2024 S&P SmallCap 600 Addition Crescent Energy CRGY Energy S&P SmallCap 600 Deletion Perficient PRFT Information Technology For more information about S&P Dow Jones Indices, please visit www.spdji.com  ABOUT S&P D

      10/1/24 5:30:00 PM ET
      $CRGY
      $PRFT
      $SPGI
      Oil & Gas Production
      Energy
      EDP Services
      Technology
    • Crescent Energy Receives a Gold Standard Pathway Rating from the United Nations' Oil & Gas Methane Partnership for a Second Consecutive Year

      Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") today announced that it received the Oil & Gas Methane Partnership's ("OGMP 2.0") Gold Standard pathway rating for a second consecutive year. The prestigious rating signifies that a company has a credible multi-year plan to accurately measure its methane emissions. OGMP 2.0 is the United Nations Environment Programme's flagship oil and gas reporting and mitigation program and the leading industry standard for methane emissions reporting. The Gold Standard pathway is the highest reporting level under the initiative and Crescent is one of only four U.S. based upstream companies to receive this rating for a second consecutive

      12/14/23 9:00:00 AM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Officer Kendall Brandi bought $10,299 worth of shares (932 units at $11.05), increasing direct ownership by 4% to 23,347 units (SEC Form 4)

      4 - Crescent Energy Co (0001866175) (Issuer)

      3/19/25 5:54:26 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Director Duginski Michael bought $317,180 worth of shares (30,000 units at $10.57), increasing direct ownership by 13% to 259,607 units (SEC Form 4)

      4 - Crescent Energy Co (0001866175) (Issuer)

      3/13/25 5:01:55 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Officer Shi Bo bought $10,574 worth of shares (950 units at $11.13), increasing direct ownership by 2% to 45,811 units (SEC Form 4)

      4 - Crescent Energy Co (0001866175) (Issuer)

      9/9/24 5:09:10 PM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Crescent Energy Company

      SC 13G/A - Crescent Energy Co (0001866175) (Subject)

      11/13/24 12:29:35 PM ET
      $CRGY
      Oil & Gas Production
      Energy
    • SEC Form SC 13G filed by Crescent Energy Company

      SC 13G - Crescent Energy Co (0001866175) (Subject)

      11/8/24 11:45:56 AM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Amendment: SEC Form SC 13D/A filed by Crescent Energy Company

      SC 13D/A - Crescent Energy Co (0001866175) (Subject)

      8/9/24 2:40:05 PM ET
      $CRGY
      Oil & Gas Production
      Energy

    $CRGY
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Siebert Williams Shank initiated coverage on Crescent Energy Company

      Siebert Williams Shank initiated coverage of Crescent Energy Company with a rating of Buy

      2/3/25 8:41:41 AM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Pickering Energy Partners initiated coverage on Crescent Energy Company

      Pickering Energy Partners initiated coverage of Crescent Energy Company with a rating of Outperform

      10/28/24 8:31:18 AM ET
      $CRGY
      Oil & Gas Production
      Energy
    • Evercore ISI resumed coverage on Crescent Energy Company with a new price target

      Evercore ISI resumed coverage of Crescent Energy Company with a rating of Outperform and set a new price target of $17.00

      9/24/24 7:40:21 AM ET
      $CRGY
      Oil & Gas Production
      Energy